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Category Archives: Market Health

Jungle Island To Ask Miami To Approve Hotel Development

The owners of Jungle Island want to build a family-friendly hotel at the Watson Island theme park On May 24, park owner ESJ Capital Partners will ask the Miami City Commission to put a referendum on the August ballot that would ask voters to approve the development of a hotel of up to 130 feet tall with up to 300 rooms. would include an …

Miami Boasts Less Retail Space Availability Than New York, Los Angeles, Data Show

The demand comes with one of the fastest-growing rental rates in the past five years, a CBRE report finds For years, Miami has been working to grow, attract investment and claim its spot among the big metropolitan players like New York and Los Angeles from tech to real estate. Ana Barcelo, CBRE’s first vice president and high-street retail expert in Miami says, “The rental rates have …

Industrial Market Thriving on High Demand, Limited New Supply

South Florida’s tight industrial real estate market is setting records as demand rises without much new in the pipeline More than 11.5 million SF of industrial space in South Florida was leased in 2017, pushing down vacancy rates and strengthening the industrial real estate market. With higher rents for stores, retailers hold some of their products in nearby warehouses to significantly reduce their store square …

Cover Story: Mixed-Use Zoning Key To Cypress Creek’s Transformation

Fort Lauderdale’s Cypress Creek area is one of South Florida’s largest business districts, yet its office market hasn’t bounced back as strongly as others in the region. A proposed zoning change could transform the office district into a vibrant neighborhood with a multitude of housing, dining and entertainment options. As South Florida’s eighth-largest office market, and the second-largest in Broward County, Cypress Creek is …

82-Story Tower Could Replace Marriott-branded Hotel In Downtown Miami

The Marriott-branded Courtyard Miami Downtown hotel could be replaced by an 82-story mixed-use tower. The property currently has a 13-story, 231-room hotel that was built in 1975, which would be demolished. AVR Realty wants to build a 1.53 million-SF tower that would rise 898 feet. It would feature 637 residential units, 266 hotel rooms, about 25,500 square feet of convention and meeting space within the …

Crocker And Rialto Acquire 1.8M-Square-Foot Office Campus In Boca Raton

Rialto is the commercial real estate management arm of Miami-based Lennar Corp. Crocker Partners, Rialto Capital and Siguler Guff formed a joint venture that acquired the Boca Raton Innovation Campus, a 1.8 million-SF office campus known as where IBM created the personal computer. The managing members of Boca T-Rex Borrower, the entity that owns the property, were recently changed to executives with Rialto when …

Meet The Woman Tasked With Leasing Up Brickell City Centre’s 500K SF Of Retail

The 120 doors at Brickell City Centre are 90% leased already. Overholt is hoping to lure quality purveyors of linens, kitchen and bath items, and children’s goods. On a prior Italy trip, Overholt found the inspiration for what would become La Centrale, the center’s 40K SF food hall, which opened this year. Swire Properties Inc. had negotiated with the city to make Brickell City Centre part …

Feds Hike Threshold For Appraisals Tied To Commercial Real Estate Loans

Deals below $500k won’t require certified appraisal, instead of previous $250k limit An inter-agency group of regulators decided on Monday to raise the threshold for commercial real estate deals that need approval from a state-certified appraiser from $250,000 to $500,000. Raising the threshold “will materially reduce regulatory burden” Regulators originally proposed raising the limit to $400,000 to keep it in line with inflation.   …

This E-Commerce Giant Thinks Supermarkets And Department Stores Are The Future Of Logistics Property

Berlin-based Zalando is one of the world’s largest fashion-focused e-commerce firms, with a market capitalization of €11B and 2017 revenue of €4.4B. It sells products directly to consumers and also acts as an online platform for other retailers. “It is something the real estate sector should think about, as well as shops and residential adding multi-let industrial. The growth in online retail is one …

Slow Down Expected for CRE Market According to Experts

In February, the U.S. experienced a sharp decline in transaction volumes which was the first sign the Commercial Real Estate market was slowing down. Now a new report released by the Urban Land Institute predicts that the CRE market will slow down over the course of the next few years. The good news is the leading economists who contributed to the report are expecting …

Commercial Real Estate Sales Level Off

After six years of increases and growth, the commercial real estate market is beginning to show signs of leveling off. In February, U.S. CRE sales declined almost 47% year over year, to $25.1 billion. January saw sales reach $46.2 billion, which makes the February decline extreme. Many US markets are beginning to see activity plateau, but Miami is still seeing increases in CRE activity, including total sales. Volatility …